JP2003530649A - Personalized investment advisory system and method embodied on a network - Google Patents

Abstract

The present invention relates to a computer-implemented investment advisory system, and more particularly, to a computer-executable investment advisory system capable of providing a personalized investment advisory service to a large number of users through a network. About the system. The investment advisory system according to the present invention is based on a product performance evaluation unit that periodically calculates a performance evaluation index based on a rate of return and risk for each investment product, and data on a customer's investment propensity received from a communication unit. Quantitatively grasp the investment tendency of the customer, including the risk and expected rate of return, and calculate the result as a performance evaluation class, and convert this performance evaluation class to the same dimension as the product performance evaluation index. A customer tendency analysis unit that calculates an investment allocation for each type of investment product based on the customer performance evaluation class, and an asset allocation unit that reports this to the customer through the communication unit; In response to the request, the product database is accessed and at least one product having a small difference between the product performance evaluation index and the customer evaluation index of the requested customer is selected as an investment product. The characterized in that it comprises a and a product selection means for presenting to the customer through the communication unit.

Description

Detailed Description of the Invention

TECHNICAL FIELD The present invention relates to a computer-executable investment advisory system, and more particularly to a computer-executable investment advisory service that can provide personalized investment advisory services to a large number of users through a network. It is about the advisory system.

BACKGROUND OF THE INVENTION Consultation on individual investment has long relied on expert personal consulting. The consultant analyzes the asset structure of the individual, grasps the investment objectives and propensity through an interview, and presents the investment portfolio suitable for the customer based on the information on the investment product he has.

However, the amount of information held by a consultant regarding investment products and the ability to analyze the information are limited, and therefore, many investment products are provided with an objective evaluation in consideration of the rate of return and its fluctuation. Is very difficult. Moreover, it must be impossible or extremely difficult to systematically analyze a large number of modern investment products and present the most suitable product for the customer.

Conventionally, there has been a web service for providing investment information to a client computer connected to a network, but these services are limited to database processing and presentation, and various investment products are analyzed based on generalized principles. However, we have not found any examples of presenting investment portfolios that match the individual asset structure, investment goals, and investment propensity.

Further, despite the fact that the investment targets for investing personal assets are various, from stocks, bonds and funds of indirect investment products to insurance, deposits, real estate, etc. There was no example of presenting an investment portfolio by analyzing the subject in an integrated manner.

Therefore, an object of the present invention is to provide an investment advisory system that is useful for analyzing an individual's investment propensity and building an optimal investment portfolio based on the analysis.

Further, according to the present invention, it is possible to analyze investment products according to various categories based on investment propensity of individuals, and it is also possible to analyze investment portfolios suitable for investment products according to these various categories. Its purpose is to provide an investment advisory system capable of guiding the composition.

A further object of the present invention is to provide an investment advisory system that judges the investment eligibility of individual products constituting an individual's current investment portfolio based on systematic criteria.

[Means for Solving the Problems] In order to achieve the above object, according to one aspect of the present invention, an investment advisory system of the present invention is a generalized quantitative method for various investment products. It is characterized by providing an evaluation means. With such a characteristic aspect of the present invention, it is possible to provide a unified and systematic inquiry to various investment products, and it is also possible to recommend alternative products to different types of investment products.

According to another aspect of the present invention, the investment advisory system of the present invention quantitatively grasps the investment propensity of each individual, and obtains the quantitative evaluation result generally calculated for each investment product. It is characterized by presenting an investment product suitable for an individual's investment propensity by matching with.

Embodiments of the Invention Hereinafter, the present invention will be described in detail through preferred embodiments described with reference to the accompanying drawings so that those skilled in the art can easily understand and reproduce the same.

FIG. 1 is a diagram schematically showing an entire service system in which an investment advisory system according to the present invention is implemented. The equipment on the service provider side includes one or many servers 1, 2, 3 and a database 4. The server may include an application program server 1, a backup server 2 and a database server 3, which are managed through a plurality of or one administrator terminal 5. Among them, the main program associated with the investment advisory system according to the present invention is loaded on the application program server 1, identified by the domain name on the Internet, and connectable from the client computer 6. As is well known, these servers 1, 2, 3 may be connected to a network device 7 such as a router and may be equipped with a device for security. The client computer 6 can be a network interface-supported personal computer or a network server, and is supported by a graphic output device and a pointing device, such as a mouse, for a graphic user interface so that a web browser can be executed. Also, the keyboard must be supported for the user to input specific information. Hereinafter, for easier understanding, description will be made from the viewpoint of a customer who uses an embodiment of the investment advisory system according to the present invention.

The investment advisory system according to the present invention targets various investment products such as funds, bonds, stocks, real estate, deposits and deposits, and insurance that allow individuals to utilize their own assets. In the investment advisory system according to the present invention, there is also a comprehensive menu in which these investment products can be considered as a whole, for example, one named “goods tech”. There is also a menu for managing members and a menu for providing other investment information and news.

A user who wants to use the investment advisory system according to the present invention executes a web browser or the like on his / her client computer 6 to connect to the application program server 1 on which the investment advisory system according to the present invention is executed. After that, enter your personal information and register your ID and password in accordance with the membership registration procedure.

After logging in, the member can first select the goods tech menu. However, it is not necessarily limited to this, and funds, bonds, stocks,
It is also possible to use the investment advisory system according to the present invention by limiting to one or more subordinate menus such as real estate, deposits and savings, and insurance. For example, the member may decide to invest his or her own assets only in the fund and select and use the fund menu of the investment advisory system according to the present invention.

The wealth tech menu includes'My wealth ',' Investment propensity analysis ',' Asset allocation wizard (as
set allocation magician) ',' performance evaluating ma
gician) ',' problem solution magician 'menu is included. Such a menu structure forms a common flow not only in the comprehensive technical menu, but also in the aforementioned fund, bond, stock, real estate, deposit and deposit, and insurance menu. First, members can enter or confirm their current investment status for each investment product in the'My property 'menu. The investment advisory system according to the present invention classifies customer investment products into funds, bonds, stocks, real estate, deposits and savings, insurance, and the like, and further divides these into three categories. For example, a fund is a mutual fund. Divided into beneficiary certificates, shares are exchange (KSE)
And KOSDAQ strains are processed separately. When the purchase date, purchase price, total purchase price, etc. are entered for products such as funds, bonds, stocks, etc., the current price and the current total price are read from the database which is periodically updated and presented to the customer.

Next, the member selects the'Investment propensity analysis' menu. Through this menu, the investment advisory system according to the present invention acquires specific investment information that is not grasped by the data input when joining the membership. The acquisition of such investment information is roughly divided into the economic conditions of members, expected investment returns and predictions of future economic conditions, and attitudes toward investment risks, and is carried out in the form of a questionnaire survey. Information on economic conditions can be obtained from surveys on annual income, current real estate holdings, emergence of branches, etc. For expected investment returns and future economic conditions, direct investment return rates by investment product type are queried. In addition, it can be obtained from a questionnaire survey of various methods, such as the degree of interest in economic indicators, the reaction of members to hypothetical economic indicators, and the attitude toward investment risk. This kind of three investment propensity analysis is quantified comprehensively, for example, polar maintenance (-3), maintenance (2), stable (
1), balanced growth (+1), attack (+2), and assault (+3) will be analyzed as one of the seven stages of investment propensity of members.

Next, the member selects the'asset allocation wizard 'menu. In this menu,
The composition of the investment portfolio most suitable for the member, which is calculated based on the investment tendency of the member grasped from the investment tendency analysis menu, is presented in comparison with the current investment portfolio input from the'My property 'menu. However, with respect to some investment targets, such as real estate, of the composition of such an investment portfolio, it is possible to simply leave it to the ratio or the amount that the member unilaterally selects, and the remaining quantitative analysis can be presented more rationally. It is also possible to limit the application of the investment advisory system according to the present invention to investment targets. Also, if there is a surplus fund that has not been input in my property, it is possible to additionally consider this and present the optimal investment portfolio. FIG. 2 shows an example of the screen output of such an'asset allocation wizard 'menu. As shown in Fig. 2, the optimal portfolio calculated based on the current investment portfolio of the customer and the analyzed propensity is presented in the form of a graph for each investment product type, and the specific amount is presented in the comparison table. To be done. This allows the customer to visually understand their current investment portfolio and their optimal portfolio. Members can select this menu at any time to contrast their current investment portfolio with the optimal investment portfolio presented to them.

Next, the member selects the'performance evaluation wizard 'menu to select his or her current investment.
Individual products that make up the portfolio can be evaluated. Such evaluation is based on the investment propensity obtained from the investment propensity analysis,
Considering the degree of risk, etc., it is performed from eligible / unqualified or evaluation profit / loss presentation. Figure 3
Is an example of a screen that presents the evaluation results for individual products in this way. The screen that is presented when you select one of the products from the individual products that make up the investment portfolio of members and the list of simple judgment results. obtain.

A specific algorithm for such evaluation will be described in detail later. Such an assessment can be done at any time, not just when the portfolio changes,
This is because, for example, the investment result of an investment product also fluctuates as the stock price fluctuates or the fund return rate fluctuates. Through this process, the customer can objectively evaluate whether or not the individual products that make up his or her current portfolio are suitable for the criteria such as the risk ratio and the target rate of return, that is, the personalized investment propensity. .

Next, the member selects the'problem-solving wizard 'menu and receives information about the investment product which replaces the inappropriate product among the investment products currently constituting his / her investment portfolio. The problem-solving wizard presents an appropriate investment product in place of the inappropriate investment product that currently composes the portfolio based on the investment propensity analysis of the members.

According to a preferred aspect of the present invention, the investment advisory system of the present invention can present a substitute product not only in the same type of investment product but also in a different type of investment product. For example, it is possible to present an alternative bank deposit product for an inappropriate fund product. This is because investment products belonging to different types are evaluated based on the unified evaluation index according to the preferred embodiment of the present invention.

[0022]   Hereinafter, the overall configuration of the investment advisory system according to the present invention will be described in detail.

An investment advisory system according to one aspect of the present invention is embodied on a server computer that communicates with each of a large number of customer computers connected through a network, and a communication unit that transmits and receives digital information to and from each of the customer computers. Quantifying the investment propensity of the customer including the risk and the expected rate of return based on the customer database storing the information on the investment product of the customer received from the communication means and the data on the investment propensity of the customer received from the communication means. Customer tendency analysis means that comprehensively grasps this and calculates it as a result evaluation grade, and an asset that calculates the investment distribution for each type of investment product according to the result evaluation grade and reports this to the customer through the communication unit. And a distribution means. According to this aspect of the present invention, the present invention can present an optimal investment portfolio based on the customer's tendency.

Further, an investment advisory system according to another aspect of the present invention is a communication means for transmitting and receiving digital information to and from each of the customer computers, a product database for storing information on a commercially available investment product including a return rate, and A customer database that stores information on investment products of customers received from the communication means, and the product database is accessed to periodically calculate a performance evaluation index based on the rate of return and risk for each investment product. Product performance evaluation means for storing investment products in the product database and quantitatively grasping the investment propensity of the customer based on the data on the investment propensity of the customer received from the communication means, and the product performance evaluation index A customer tendency analyzer that converts into the same dimension and stores it in the customer database as a customer evaluation index Then, in response to the customer's selection, the product database is accessed to select at least one product as an investment product that has a small difference between the product performance evaluation index and the customer evaluation index of the requested customer, and this is selected as the communication product. Product selection means for presenting to the customer through the means. According to such an aspect of the present invention, the present invention can present an investment product most suitable for the investment propensity of the customer.

According to an additional aspect of the present invention, the present invention provides a predetermined target product selected from the products constituting the investment portfolio of the requesting client stored in the customer database in response to the customer's selection. It further comprises investment product analysis means for judging whether or not the investment is eligible by comparing the rate of return for the period with the benchmark rate of return, and notifying the result through the communication means. With this preferred aspect of the invention, the invention helps determine the investment eligibility of the individual investment products that make up the customer's current investment portfolio.

Hereinafter, various preferred embodiments of the present invention will be described in detail with reference to the attached plain surface.

FIG. 4 is a block diagram showing a specific configuration of the investment advisory system according to the embodiment of the present invention. Here, the product database 42 and the customer database 43 are shown separately, but they may be physically different databases stored in one memory device or stored in another memory device. May be The communication unit 41 exchanges digital information with each of the client computers 6 of the customer through the Internet.

The product result evaluation unit 44 calculates a return rate and a risk level for a general investment product stored in the product database 42 or a customer-specific investment product stored in the customer database 43, and based on this, a result. Calculate the evaluation index. The customer tendency analysis unit 45 transmits the questionnaire content to the client computer 6 of the customer through the communication unit 41, receives a response to the questionnaire content, evaluates the expected return corresponding to the investment product type of the customer based on the response, and Calculates the degree of risk that a customer should accept when investing, and also calculates the customer-specific performance evaluation index by grasping the investment propensity including the current economic conditions of the customer.
The result evaluation index is calculated so as to correspond to the product result evaluation index grasped by the product result evaluation unit 44. The asset allocation unit 46 calculates an optimal investment portfolio for each customer based on the customer propensity quantitatively evaluated by the customer propensity analysis unit 45.
The investment product analysis unit 47 receives the results evaluated by the product performance evaluation unit 44 with respect to the individual investment products that make up the current customer investment portfolio, determines whether the investment is eligible or not as shown in FIG. Notice. The product selection unit 48 selects at least one product having a minimum difference between the customer performance evaluation index calculated by the customer propensity analysis unit 45 and the product performance evaluation index calculated by the product performance evaluation unit 44 as a recommended investment product. To present.

The operation of the investment advisory system according to the present invention will be described below in detail for each function with reference to the accompanying drawings.

First, the function of the customer propensity analysis unit 45 will be described. In the above-described embodiment of the present invention, the'investment tendency analysis 'menu is mainly executed in the'customer inclination analysis unit'. Customer investment propensity analysis is conducted through questionnaire surveys. The customer's investment propensity may vary slightly depending on the type of investment product, but it can be broadly divided into 1) economic conditions, 2) expected investment returns and forecasts for future economic conditions, and 3) attitudes toward danger. To be grasped. Depending on the type of investment product, about one or two of these may be excluded, or it may be investigated from different aspects, but basically the current investment conditions of the customer, expected investment return, future uncertainty Attitude toward investment risk can be said to be an indispensable tendency in investment.

Analysis of current economic conditions includes age, annual income, future income forecast, debt size, financial asset size, future spending plan, home ownership, number of dependents, remaining years of retirement, occupation, etc. By recognizing the above, these are scored, and the score is quantified by dividing it into several stages, for example, upper, middle, and lower three stages through statistical division.

To grasp the propensity to the investment return and the expectations for the future economic situation, after dividing into the target investment period, the target investment return, the future expected value, etc., and grasping them, a weight is applied to each of them to score the calculated points. Through statistical partitioning, it is quantified by dividing into several stages, for example, upper, middle and lower stages.

[0033] Grasping the propensity for attitudes toward danger can be scored in several steps through statistical segmentation, by scoring the risk that members can accept through an appropriate game-type questionnaire, for example, a saga game with a determined probability. For example, it is quantified by classifying into three stages of upper, middle and lower.

The result evaluation grade is calculated by analyzing the result of the questionnaire. In a preferred embodiment of the present invention, the customer's financial condition, investment return and future economic
The expected value, the attitude toward danger, etc. are evaluated in each of the three levels of upper, middle, and lower, and the evaluation value of each of these is comprehensively determined to be one of the seven levels.

A high performance evaluation grade means that the expected profit is high and the risk of acceptance is low, and a low performance evaluation grade means that the expected profit is low and the risk of acceptance is high. Therefore, if the expected return and the risk level are'medium ', the risk level will be increased to 4 levels, or if the expected level is low, the performance evaluation grade will be lowered, and if the risk level is low or the expected profit will be high, the performance level will be high. Raise. Such work is appropriately assigned on the rate of return and risk level by applying a concept similar to the table in FIG.

Other embodiments of calculating the customer's performance evaluation index are possible. First, the expected rate of return is determined directly or indirectly based on the results of the questionnaire survey. Next, with regard to the risk of accepting the risk, since it is difficult to conduct a questionnaire survey, an algorithm similar to that in the above-mentioned embodiment is applied. That is, as a result of the questionnaire survey, the determined risk level is converted using the risk value for each investment product type calculated by the risk calculating unit 442 of the product performance evaluation unit 44.

That is, first, the risk value for each investment product obtained from the product performance evaluation unit 44 is classified according to type based on an appropriate critical value and divided into the same number of risk classes as the customer risk class. . A specific algorithm for calculating the product risk value will be described later in detail. Next, a representative value, for example, an average value, of the degree-of-risk values for each grade is obtained for each investment product type. This representative value can be calculated as the risk value for the customer risk class corresponding to the investment product type.

When the target rate of return and the customer allowable risk value are obtained in this way, the customer target result evaluation index is obtained from these values and the benchmark rate of return, that is, the return rate of the representative product. A representative product is a product that can be set as an investment return target with a return rate that a customer expects at a minimum, for example, a treasury bond product. An example of an algorithm for obtaining such a target performance evaluation index can be expressed by the following mathematical formula.

[0039]

[Equation 1]

The mathematical expression (equation (1)) is a degree of deviation of the target rate of return from the benchmark rate of return corresponding to the reference value, and is divided into risk values that are the concept of standard deviation, and the difference is the risk. It is a concept normalized to degree. In this way, the customer performance evaluation index already converted to the product performance evaluation index can be calculated, and then this can be compared with an appropriate number of critical values to calculate the performance evaluation grade.

As described above, in order to select an investment product based on the customer tendency quantitatively grasped by the customer tendency analysis unit 45 through the questionnaire survey, the performance evaluation grade is the same as the performance evaluation index for the investment product. It has to be converted into a dimension. This conversion arranges investment products by type according to the size of the performance evaluation index value (s
After grading to the same number as the customer's performance evaluation grade number, calculate the average performance evaluation index value of each graded group and adopt it as the customer's performance evaluation index value for the relevant investment product type. .

In yet another embodiment of calculating the customer performance evaluation index described above, the performance evaluation grade and the performance evaluation index value have already been converted, and therefore the values are used as they are for comparison with the product performance evaluation result. be able to.

The function of the asset allocation unit 46 will be described below. In the above-described exemplary embodiment of the present invention, the'asset allocation wizard 'is mainly implemented by the asset allocation unit 46. The processing of the asset allocation unit 46 is performed at a stage in which the customer tendency analysis unit 45 communicates with the customer computer to perform a questionnaire survey on the investment tendency of the customer, and based on the data input through the questionnaire survey, the investment tendency of the customer. And quantitatively including the expected rate of return,
This is done after the stage of calculating the result evaluation grade by integrating these. Asset allocation department 4
The process of 6 mainly includes the step of calculating the investment allocation for each type of investment product according to the calculated performance evaluation grade and notifying the customer of this.

Specifically, the asset allocation unit 46 presents an appropriate investment portfolio using the risk degree of the investment product and the average rate of return according to the performance evaluation grade calculated from the customer propensity analysis unit 45 according to the above procedure. To do. If the performance evaluation grade is high, the investment for high profit and high risk products such as stocks is increased, and if it is low, the investment for financial products such as safe deposits is increased. In a preferred embodiment of the present invention, the total of the performance evaluation grades is 7. Therefore, the investment portfolio can be configured by adjusting the grade 3 as described above. In addition, the specific investment amount for each product is presented from the current asset structure of the customer grasped from the questionnaire survey.

The processing flow of the investment product analysis unit 47 will be described below with reference to FIG. In the above-described embodiment of the present invention, the “results evaluation wizard” is mainly implemented by the investment product analysis unit 47. The function of performance evaluation can be roughly divided into two, that is, performance evaluation for individual products that make up the current investment portfolio of the customer and periodic performance evaluation for all investment products stored in the product database 42. These functions, while the former takes into account the customer's holding period in the period taken into consideration during evaluation,
The basic algorithm is the same, except that the latter is not considered.

In addition to the process of calculating the target performance evaluation index of the customer performed by the customer tendency analysis unit 45 described above, the investment product analysis unit 47 obtains the target performance evaluation index for the commercially available investment products. This calculation process can be performed in the product result evaluation unit 44 at regular intervals, for example, once a day and stored in the product database 42. However, in the analysis of the product held by a specific customer, it may be calculated every time the request is made based on the holding period of an individual.

On the other hand, in order to analyze the investment portfolio of the customer, first, the application program server provides the customer with an input menu in an appropriate graphic environment to input the detailed information of the investment product currently invested by the customer. Thus, this data is input through the communication unit 41 in FIG. 4 via the Internet. Such product input is expanded so that the customer's current investment portfolio can be grasped by repeating for all the current investment products held by the customer. This is the'my
As described in detail in the'Property 'menu.

The result evaluation of the investment product according to the preferred embodiment of the present invention is based on the benchmark return rate, which is the return rate that is normally required for the customer product, as an actual return rate of the corresponding customer product, for example, the previous day or the previous month. The risk level is calculated by using the difference with the profit rate of, and the performance evaluation index is calculated for each customer product from the benchmark profit rate and the risk data.

FIG. 5 is a flow chart showing a processing example of the investment product analysis unit 47 according to a preferred embodiment of the present invention. Such a processing flow is typically best applied to mutual funds and the like, and can be applied to other products such as bonds in the same basic concept. The present invention can support unified and systematic analysis and consultation for various investment products by introducing such a generalized result evaluation algorithm.

First, the rate of return during the holding period is calculated for each investment product (step 501). Then, the rate of return for the standard product having the basic rate of return, that is, the benchmark rate of return, is calculated (step 502). Next, the degree of risk is calculated for each investment product (step 503). The degree of risk means the fluctuation of the rate of return, and can be calculated by the standard deviation of the degree of risk during the holding period or another predetermined period. Then, the performance evaluation index can be calculated by the following formula.

[0051]

[Equation 2]

The performance evaluation index normalized the rate of return exceeding the benchmark rate of return with the degree of risk.
Has meaning. The higher the product return rate and the lower the risk, the higher the performance evaluation index. The performance evaluation index can be calculated by comparing the performance evaluation index with a predetermined critical value. FIG. 3 shows an analysis result of the corresponding products in the performance evaluation grade, the rate of return, and the risk level calculated as described above.

After that, it is determined whether the purchase date has passed a predetermined period, for example, 3 months. Otherwise, the holding period that is sufficient to allow the evaluation has not passed, so it is determined that it is investment grade.
(Step 505). If a sufficient holding period has passed, it is compared whether the rate of return during the holding period is higher than the benchmark rate of return, and if it is higher, it is judged as investment grade (step 506).
Otherwise, if the immediately preceding rank value is larger than the current rank value in the period serving as the evaluation standard, that is, if the rank is improved, it is judged as investment grade (step 507). The rank is a value assigned by arranging investment products based on the rate of return during the evaluation period. On the other hand, if not, it is determined that the investment is not eligible.

Hereinafter, a specific algorithm for calculating the performance evaluation index and the like for each investment product type will be described in detail. Such an algorithm is merely an example, and the present invention is not limited thereto.

First, the case of a fund product will be described. The benchmark rate of return of each individual product is obtained by using the stock index and the rate of return of treasury bonds of representative products, as in the example of the following formula. Here, for example, the national treasury bond profitability was adopted as the profitability of the representative product in the sense of the minimum expected return of the customer. Further, although the KOSPI200 index is selected as the stock price index in the following formula, it may be selected variously according to the type of customer product.

Benchmark rate of return = KOSPI200 × W + Treasury bond rate of return × (1−W) Here, W is appropriately selected in the range of 0 to 1 according to the type of the relevant product, and this specific example is as follows. Is like.

Growth type product: KOSPI200 × 0.7 + Treasury bond return rate × 0.3 Stable growth type product: KOSPI200 × 0.3 + Government treasury bond return rate × 0.7 Stable type product: KOSPI200 × 0.0 + National Treasury Bond Return Rate x 1.0 The risk degree is calculated using the benchmark return rate of each product and the return rate of the corresponding product thus obtained. The risk level means the average of fluctuations with respect to the standard rate of return, and the following mathematical expression can be an example.

[0058]

[Equation 3]

A performance evaluation index is calculated based on this risk value and the profit rate of the corresponding product. An example of such a calculation method is expressed by the following formula.

[0060]

[Equation 4]

[0061]   Here, the denominator represents the rate of return of a product that exceeds the benchmark rate of return.

The performance evaluation index calculated in this way has a meaning as data obtained by normalizing the profit rate portion of the product exceeding the benchmark profit rate with respect to the risk level.

In the following, an embodiment of the result evaluation algorithm for the case of a bond will be described. The basic processing flow for bonds also follows the flow of the result evaluation algorithm shown in FIG. First, the holding period return rate of an individual claim is calculated (step 501). It is preferable to calculate the holding period return rate of individual claims only from the present to a certain period, and in the present embodiment, it is limited to the period up to one year ago.

[0064]

[Equation 5]

Here, P ₀ = the oldest bond price among the annual bond prices P = the latest bond price among the annual bond prices R = annual average bond holding period return rate m = annual interest payment number n = Interest payment period d ₁ = Number of remaining days until the first interest payment date within the period d ₂ = Number of remaining days from the last interest payment date within the period to the latest bond price application date j = Number of interest payments within the period Receivable in this example The benchmark rate of return, which is the standard rate of return for the product, is the holding period rate of return of the three-year government treasury bond as in the following formula (step 502). However, the rate of application of the oldest bond price of the individual bond receivables for one year and the holding period rate of return of the most recently issued 3-year JGBs will be used.

[0066]

[Equation 6]

P ₀ = oldest bond price among 1-year benchmark bond prices P = most recent bond price among 1-year benchmark bond prices R = annual average bond holding period return rate m = annual interest payments n = interest Payment period d ₁ = Number of remaining days until the first interest payment date in the period d ₂ = Number of remaining days from the last interest payment date in the period to the latest bond price application date j = Number of interest payments within the period Is calculated (step 503). The risk level is calculated by the following mathematical formula.

[0068]

[Equation 7]

[0069]   Here, the calculation of the duration of the individual bond is based on the following formula.

[0070]

[Equation 8]

[0071]   here,       D: Duration, PV (CFt): Present value of cash flow at time t       T: Maturity       P: Total future cash flow present value (credit price)       R: Return on maturity (YTM)       CFt: Cash flow at time t Is.

[0072]   The convexity of individual bonds is calculated by the following formula.

[0073]

[Equation 9]

Here, the first derivative term is the amount of change in the bond price measured by using the duration, the second derivative item is the amount of change in the bond price in consideration of convexity, and the third derivative term or more Since the sum of is close to 0, the bond convexity is as follows.

[0075]

[Equation 10]

As a result, the performance evaluation index is calculated (step 504). The performance evaluation index is calculated by the following formula.

[0077]

[Equation 11]

As for the result evaluation grade, the calculated result evaluation index value is assigned to a predetermined grade based on an appropriate critical value. For example, performance evaluation grades may be assigned as follows.

Grade 1: Outstanding credit within the top 10% of the performance evaluation index Second grade: Outstanding credit of the performance evaluation index within 10% to 32.5% Grade 3: Outstanding credit of the middle 35% performance index 4 Grade: Bottom of the performance evaluation index Claims within 32.5% to 10% 5 Grades: Claims within the bottom 10% of the performance evaluation index When the performance evaluation index and the performance evaluation grade by it are defined in this way, the investment grade is evaluated based on this. . First, a bond product whose purchase date is a predetermined period, for example, less than 3 months, is unconditionally determined to be investment grade (step 505). This is because not enough time has passed yet to be evaluated. Next, the individual holding period return rate is compared with the benchmark return rate, and if the return rate is higher than the benchmark return rate of the reference return rate, it is determined as an investment grade product (step 506). Then, even if not, if the previous divisional ranking is higher than the current ranking, it is determined to be investment grade, and if not, it is determined to be not investment grade (step 507).

Hereinafter, the stock performance evaluation algorithm of the investment products will be described in detail with reference to FIG. First, the holding period rate of return for each individual item is calculated (step 50
1). The holding period return rate is the average return rate of individual events during the holding period and can be calculated by the following formula.

[0081]

[Equation 12]

Next, the benchmark holding period return is calculated (step 502). The benchmark holding period return is the holding period return of the holding period KOSPI or KOSDAQ index and can be calculated by the following formula. That is, it is possible to use the standard KOSPI for the exchange item and the KOSDAQ for the KOSDAQ item.

[0083]

[Equation 13]

Next, the degree of risk for the evaluation target product is calculated (step 503). The risk level is calculated from the standard deviation σ of the rate of return for the holding period N.

[0085]

[Equation 14]

[0086]

[Equation 15]

[0087]   On the other hand, the benchmark standard deviation σ and the risk can be calculated by the following mathematical formula.

[0088]

[Equation 16]

[0089]

[Equation 17]

Next, the performance evaluation index for the evaluation target product is calculated by the following mathematical formula (
Step 504).

[0091]

[Equation 18]

Here, the cumulative return rate of the individual item holding period of the one-year fixed term deposit is calculated by the following formula.

[0093]

[Formula 19]

[0094]   On the other hand, the benchmark performance evaluation index is calculated by the following formula.

[0095]

[Equation 20]

After that, the performance evaluation grade for the evaluation target product is calculated based on an appropriate critical value. An example of such a performance evaluation grade calculation method that can be applied to a stock product is as follows.

1st grade: Shares within the top 10% of the performance evaluation index 2nd grade: Shares within the top 10% to 32.5% of the performance evaluation index 3rd grade: Shares in the middle 35% of the performance evaluation index 4th grade: Bottom of the performance evaluation index Shares within 32.5% to 10% Grade 5: Shares within the bottom 10% of the performance evaluation index In the case of shares, sufficient holding period is not taken into consideration when judging investment grade.
However, if the individual item holding period return rate is higher than the benchmark holding period return rate, it is judged as investment grade (step 506). Even if the rate of return is low, if the performance evaluation index of an individual event is higher than the benchmark performance evaluation index, it is judged as investment grade.
If not, it is judged as not eligible for investment.

A result evaluation algorithm for real estate products will be described below based on an embodiment. Real estate products are divided into simply owned real estate and rental business real estate for performance evaluation. In the case of simply owned real estate, the trading index volatility is the standard instead of the rate of return.
In the case of real estate for rental business, the rate of return on rental business is the standard.

First, the case of simply owned real estate will be described. First, the trading index fluctuation rate of individual real estate is calculated (step 501). The trading index volatility is calculated by region and by tsubo. Next, the fluctuation rate of the benchmark trading index is calculated (step 502). The benchmark trading index volatility is a value calculated for representative real estate by region. This value is also obtained by classifying the real estate into regions, for example, into 5 grades by region and further by tsubo as in the above-mentioned individual real estate trading index volatility, and calculating the trading index volatility of each representative real estate.

[0100]   Next, the risk σ is calculated according to the following formula (step 503).

[0101]

[Equation 21]

Here, N is the total frequency of individual real estate. Then, the performance evaluation index and the performance evaluation grade for the individual real estate are calculated (step 504). The performance evaluation index is calculated from the following formula.

[0103]

[Equation 22]

The performance evaluation grade is determined by dividing these performance evaluation indices based on appropriate critical values. For example, the performance evaluation grade can be determined from the performance evaluation index according to the following criteria.

1st grade: Real estate within the top 10% of the performance evaluation index 2nd grade: Real estate within the top 10% to 32.5% of the performance evaluation index 3rd grade: Real estate with a middle 35% performance evaluation index 4th grade: The bottom of the performance evaluation index Real estate within 32.5% to 10% 5th grade: Real estate within the bottom 10% of the performance evaluation index Whether the investment grade or the non-qualification grade is judged from the performance evaluation index and the performance evaluation grade calculated in this way. First, it is unconditionally determined that the property that has not been set for three months from the set date, that is, the real estate purchase date, is investment grade (step 505). This is because the determinable period has not yet passed. Next, the individual real estate trading index volatility is compared with the benchmark trading index volatility, and if the volatility is large, it is judged as investment grade (step 506). However, even if the trading index volatility is small, if the ranking of the previous month is higher than the current ranking, it means that it has been improved, so it is judged as investment grade. Otherwise, it is determined that the investment is not eligible (step 507).

Next, the case of a rental business real estate will be described. The result evaluation algorithm for the rental business real estate is the same as that for the simply owned real estate described above, except that the rental business return rate is used as a reference instead of the trading index volatility. That is, first, the rental business return rate of the individual real estate is calculated (step 501). The rental business return rate is calculated by subtracting total expenditures and loan exchanges from the monthly income of individual real estate. Here, the total expenditure may include necessary expenses and taxes. The rental business rate of return is based on the rate of return per tsubo calculated by the following formula.

(Monthly net income of real estate / price according to current market price of real estate) × 100 / area of real estate After that, the benchmark rental business return rate is the average of the above-mentioned return rates per tsubo of the real estate on a regional basis. (Step 502). Then, the risk is calculated according to the following formula (step 503).

[0108]

[Equation 23]

Here, N means the total frequency of individual real estate. After that, the performance evaluation index and the performance evaluation grade for the individual real estate are calculated. The performance evaluation index is calculated by the following formula.

[0110]

[Equation 24]

The result evaluation grade is determined on the basis of the critical value of the result evaluation index, as in the case of the above-mentioned simply owned real estate.

An embodiment of the result evaluation algorithm for bank deposit products will be described below with reference to FIG. First, the profit rate of the individual deposit product is calculated (step 501). The rate of return is calculated by the effective rate of return of the deposit product currently held, and the effective rate of return is the ratio of the investment principal (deposit money) and all the proceeds obtained from it, converted into annual units. Say. For products with maturities of less than one year, interest and principal are reinvested in the relevant products, and interest received before the maturity is added to the principal and reinvested in the relevant products. At this time, the effective return before tax and the effective return after tax are calculated by the following formula.

[0113]

[Equation 25]

[0114]   here,       P = Investment principal       FV = Future value of deposit       n = maturity of deposit       t = tax rate Is.

[0115]   Deposits are classified into deferred deposits (time deposits, etc.) and accumulated deposits (time deposits, etc.).

The benchmark rate of return is then calculated (step 502). The benchmark rate of return is calculated by converting the interest rate by maturity of time deposits and time deposits by bank into the effective rate of return. And The effective rate of return for time deposits and time deposits is the same as the formula for calculating the effective rate of return for individual products. In the case of bank deposit products, we consider that there is no danger and set the risk level to 0. Next, the performance evaluation index and the performance evaluation grade are calculated (step 504). The performance evaluation index is calculated by the following formula.

Performance evaluation index = effective return rate of deposit product−benchmark return rate The performance evaluation index is determined by arranging the performance evaluation index in excellent order and dividing the performance evaluation index into, for example, 5 grades based on an appropriate critical value.

Hereinafter, the product selection unit 48 of FIG. 4 will be described in detail. The "problem solving wizard" function described at the beginning of this specification is mainly performed by the product selection unit 48. The product selection unit 48 is a list of investment products by type that is most suitable for the customer based on the customer tendency analyzed quantitatively by the customer propensity analysis unit 45 and the investment product-specific performance evaluation index value calculated by the product performance evaluation unit 44. To present.

Specifically, the product result evaluation unit 44 periodically sets the product result evaluation index so as to be proportional to the rate of return exceeding the benchmark rate of return for each portfolio type and inversely proportional to the risk for commercially available investment products. The calculation step is repeated, and the customer tendency analysis unit 45
At the step of conducting a questionnaire survey on the investment propensity of the customer by communicating with the customer computer, and quantitatively grasping the propensity to invest the customer based on the data input through the questionnaire survey, including risk and expected return rate. Then, after the step of calculating the customer performance evaluation grade converted into the same dimension as the performance evaluation index of the product is performed, the product selection unit 48 determines that the product performance of which the difference from the customer performance evaluation index is minimized. At least one product having an evaluation index is notified to the customer computer as a recommended product. As described above, the customer performance evaluation index quantitatively grasped by the customer propensity analysis unit 45 is converted into the same dimension as the performance evaluation index for investment products. As a result, the customer performance evaluation index and the product performance evaluation index can be compared with each other in the same dimension.

As described above, when the performance evaluation index is calculated for each investment product and the customer performance evaluation index is calculated through the customer's questionnaire survey, the difference between the customer performance evaluation index and the product performance evaluation index, that is, the gap is determined. A minimum group of investment product lists, for example, 10 investment products by type are searched as a selectable list and presented to the customer.
As described above, such a list of investment products is presented separately for each type of investment product, for example, mutual fund, bond, financial product, real estate and the like. On the other hand, since the rate of return and the risk level for individual products are calculated, if you select one of the products from the presented list, other types of investment products with low risk that can produce the same return rate will be presented. It is possible to

As a result, the customer selects the optimum product, and before or after selecting the product.
You can link and show detailed information about the product. Moreover, it is possible to directly link with the sellers of these investment products to guide purchase, and to manage the subsequent purchases on the same server. Regarding the configuration of such a system for purchasing investment products, various types of investment products have already been known in various forms before the present application, and the investment advisory system according to the present invention may be implemented through interfaces with these systems. it can.

Information on various commercially available investment products, which is the basis of such evaluation index calculation, is currently provided online daily by various institutions. For example, information related to bonds is provided by Korea Securities Densan Co., Ltd., and information about mutual fund products is provided by the Korea Investment Trust Association.

[Industrial Applicability] According to the present invention, it is possible to guide the optimal portfolio suitable for the investment propensity of the customer through the asset allocation magician function, and the current investment of the customer by using the performance evaluation magician. It is a very useful invention available in industry that can provide a systematic analysis of products based on the rate of return, and use the problem solving wizard to present the optimal investment product that suits the investment propensity of the customer. is there.

[Brief description of drawings]

FIG. 1 is a schematic view of an entire service system in which an investment advisory system according to the present invention is implemented.

FIG. 2 is a diagram showing an example of a screen output of a “asset allocation wizard” menu of the property tech menu.

[Figure 3]   It is a figure which shows one Example of the screen output of an outcome evaluation wizard menu.

FIG. 4 is a schematic diagram of an investment advisory system according to a preferred embodiment of the present invention.

5 is a flowchart showing an example of a processing flow of an investment product analysis unit in the block diagram of FIG. 4. FIG.

─────────────────────────────────────────────────── ─── Continued front page    (31) Priority claim number 2000/17217 (32) Priority date April 3, 2000 (April 2000) (33) Priority country Korea (KR) (31) Priority claim number 2000/17220 (32) Priority date April 3, 2000 (April 2000) (33) Priority country Korea (KR) (81) Designated countries EP (AT, BE, CH, CY, DE, DK, ES, FI, FR, GB, GR, IE, I T, LU, MC, NL, PT, SE, TR), OA (BF , BJ, CF, CG, CI, CM, GA, GN, GW, ML, MR, NE, SN, TD, TG), AP (GH, G M, KE, LS, MW, MZ, SD, SL, SZ, TZ , UG, ZW), EA (AM, AZ, BY, KG, KZ, MD, RU, TJ, TM), AE, AG, AL, AM, AT, AU, AZ, BA, BB, BG, BR, BY, B Z, CA, CH, CN, CR, CU, CZ, DE, DK , DM, DZ, EE, ES, FI, GB, GD, GE, GH, GM, HR, HU, ID, IL, IN, IS, J P, KE, KG, KP, KZ, LC, LK, LR, LS , LT, LU, LV, MA, MD, MG, MK, MN, MW, MX, MZ, NO, NZ, PL, PT, RO, R U, SD, SE, SG, SI, SK, SL, TJ, TM , TR, TT, TZ, UA, UG, US, UZ, VN, YU, ZA, ZW (72) Inventor Kim, In-young             Republic of Korea, 469-840 Gyeonggi-do, Yo             -Joo-Goon, Deshin-Myeong, Yurucho             Nuri 344-1, Kogkumin-Jutek               107 (72) Inventor Park, Jung-won             South Korea, 690-121 Jeju-do, Ji             Jeju, Ala-1 Don 1, Jedeki             Yos Apartment B-108 F-term (reference) 5B056 BB23 BB37 BB42 BB62 BB64                       BB72 BB75

Claims (12)

[Claims] 1. An investment advisory system embodied on a server computer that mutually communicates with each of a large number of customer computers connected through a network, wherein the system includes communication means for transmitting and receiving digital information to and from each of the customer computers. A customer database that stores information about the customer's investment products received from the communication means, and quantifies the customer's investment propensity including risk and expected return rate based on the data on the customer's investment propensity received from the communication means. Customer propensity analysis means that comprehensively grasps this and calculates it as a performance evaluation grade, and an asset that calculates investment distribution for each type of investment product according to the performance evaluation grade and reports this to the customer through the communication unit. An investment advisory system characterized by including allocation means. 2. An investment advisory system embodied on a server computer that mutually communicates with each of a large number of customer computers connected through a network, wherein the system includes communication means for transmitting and receiving digital information to and from each of the customer computers. A product database that stores information about investment products on the market including a return rate, a customer database that stores information about investment products of customers received from the communication means, and a return rate for each investment product by accessing the product database. And a product performance evaluation unit that periodically calculates a performance evaluation index based on the risk and stores the performance evaluation index in the product database for each investment product, and the customer based on the data on the investment propensity of the customer received from the communication unit. Quantitatively grasp the investment propensity of The customer tendency analysis means for converting into the same dimension as the product performance evaluation index and storing it in the customer database as the customer evaluation index, and accessing the product database in response to the customer's selection to request the product performance evaluation index. An investment advisory system comprising: at least one product having a small difference from the customer's customer evaluation index as an investment product, and product selection means for presenting this to the customer through the communication means. 3. The system, in response to a customer's selection, benchmarks a return rate for a predetermined period with respect to a selected object among products constituting an investment portfolio of a requesting customer stored in the customer database. 3. The investment advisory system according to claim 2, further comprising investment product analysis means for judging whether or not the investment is eligible by comparing with the investment rate, and notifying the result through the communication means. 4. The system, in response to a customer's selection, benchmarks a return rate for a predetermined period with respect to a selected object among products constituting an investment portfolio of a requesting customer stored in the customer database. The investment product analysis means for comparing with the rate, further for judging whether or not the investment is eligible based on the fluctuation of the rate of return for each reference period, and for notifying the result through the communication means. Investment advisory system. 5. The system calculates an extraordinary performance evaluation index from the selected risk level and target rate of return value requested by the customer, and accesses the product database to access the product performance evaluation index and the customer of the requesting customer. 5. The method according to claim 2, further comprising direct product selection means for selecting at least one product having a small difference from the evaluation index as an investment product and presenting the selected product to the customer through the communication means. Investment advisory system. 6. An investment advisory system embodied on a server computer that mutually communicates with each of a large number of customer computers connected through a network, wherein the system comprises communication means for transmitting and receiving digital information to and from each of the customer computers. A product database that stores information about commercial investment products including a return rate, a customer database that stores information about the customer's investment products received from the communication unit, and a return rate for each investment product by accessing the product database. And a product performance evaluation unit that periodically calculates a performance evaluation index based on the risk and stores the performance evaluation index in the product database for each investment product, and the customer based on the data on the investment propensity of the customer received from the communication unit. Investment propensity to risk and expected rate of return The customer tendency to quantitatively grasp and calculate this as a performance evaluation grade, and convert this performance evaluation grade into the same dimension as the product performance evaluation index and store it as the customer evaluation index in the customer database. Analyzing means, asset allocation means for calculating investment allocation by investment product type according to the customer performance evaluation grade, and notifying the customer of the investment allocation through the communication unit, and accessing the product database in response to the customer's selection Then, at least one product having a small difference between the product performance evaluation index and the customer evaluation index of the requested customer is selected as an investment product, and product selection means for presenting this to the customer through the communication means,
An investment advisory system characterized by including. 7. The system, in response to a customer's selection, benchmarks a return rate for a predetermined period with respect to a selected object among products constituting an investment portfolio of a requesting customer stored in the customer database. 7. The investment advisory system according to claim 6, further comprising investment product analysis means for judging whether or not the investment is eligible by comparing with the investment rate and for notifying the result through the communication means. 8. The system returns, in response to a customer's selection, a return rate for a predetermined period to a selected target among products constituting an investment portfolio of a requesting customer stored in the customer database as a benchmark profit. 7. The investment product analysis means, further comprising: an investment product analysis means for making a judgment as to whether or not the investment is eligible based on a change in the rate of return for each reference period and for notifying the result through the communication means. Investment advisory system. 9. The system calculates an extraordinary performance evaluation index from the selected risk level and target rate of return value requested by the customer, and accesses the product database to request the product performance evaluation index and the customer of the requesting customer. 9. The direct product selection means for selecting at least one product having a small difference from the evaluation index as an investment product, and presenting the selected product to the customer through the communication means, further comprising: Investment advisory system described in. 10. An investment advisory method executable on a server computer intercommunicating with each of a number of customer computers connected through a network, said method communicating with said customer computer to conduct a questionnaire survey on a customer's investment propensity. And a step of quantitatively grasping the investment propensity of the customer including the risk degree and the expected rate of return based on the data input through the questionnaire survey, and calculating the result evaluation grade by integrating these. A computer-executable investment advisory method comprising the steps of calculating an investment allocation for each type of investment product according to a performance evaluation grade and notifying the customer of the investment allocation. 11. An investment advisory method executable on a server computer that communicates with each of a large number of customer computers connected through a network, the method comprising periodically benchmarking returns for commercially available investment products by portfolio type. Including a step of repeatedly calculating a product performance evaluation index so as to be proportional to the rate of return exceeding the rate and inversely proportional to the degree of risk, wherein the method communicates with the customer computer to conduct a questionnaire survey on the customer's investment propensity. Based on the data input through the questionnaire survey, the investment propensity of the customer is quantitatively grasped including the risk level and the expected rate of return, and based on this, the same dimension as the product performance evaluation index is obtained. The difference between the stage of calculating the converted customer performance evaluation grade and the customer performance evaluation index is minimized. Investment advisory method executable on a computer, characterized in that it comprises the steps of notifying the customer computer at least one of the items as a recommended product, the with goods results evaluation index. 12. An investment advisory method executable on a server computer intercommunicating with each of a number of customer computers connected through a network, the method receiving information from the customer computer on a composition of a customer's current investment portfolio. And calculating the rate of return for the holding period of the individual investment products that make up the portfolio, and if the rate of return of the individual investment product is greater than the rate of return of the benchmark product, it is judged as investment grade, and if not, For each individual product that makes up the portfolio, and if the rank value of the previous unit evaluation period is greater than the current rank value, it is judged as investment grade, and if not, it is judged not to be investment grade. Reporting the determination result to a customer computer. Investment advisory methods that can be run on the computer.